MONZO BANK LIMITED
Financial Ombudsman decision DRN-4909127 Partly upheld
Partly upheldoutcome, as published by the Ombudsman
—no sum stated
Thu Sep 19deadline to accept (not the decision date)
The Ombudsman does not print a decision date. The date above is the deadline the consumer was given to accept or reject the decision, which is set about a month after it was issued. It is reliable to the year, not to the month.
What this decision was about
Irresponsible lending, Charges and fees
In the Ombudsman’s words
Miss D has complained that Monzo Bank Ltd (‘Monzo’) acted irresponsibly when it provided her with an overdraft and then went on to increase the overdraft limits.Irresponsible lending
She says the overdraft was unaffordable and has asked for all interest and charges incurred on the overdraft to be refunded.Charges and fees
Rules cited
FCA CONC (Consumer Credit sourcebook), Consumer Credit Act 1974
Source
This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-4909127.pdf on financial-ombudsman.org.uk.
The outcome shown is the Ombudsman’s own published classification, not our reading of the text. Nothing here is legal advice, and a decision concerns only the complaint it was made about.